BJ’s Wholesale Club (NYSE:BJ) Price Target Lowered to $80.00 at Loop Capital

Posted by Defense World Staff on Aug 24th, 2023

BJ’s Wholesale Club (NYSE:BJ – Free Report) had its price target decreased by Loop Capital from $85.00 to $80.00 in a report issued on Wednesday, Marketbeat Ratings reports. Loop Capital currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. UBS Group cut their target price on shares of BJ’s Wholesale Club from $83.00 to $81.00 and set a buy rating for the company in a report on Wednesday. Robert W. Baird cut their target price on shares of BJ’s Wholesale Club from $90.00 to $80.00 in a report on Wednesday, May 24th. Bank of America cut their target price on shares of BJ’s Wholesale Club from $85.00 to $80.00 and set a buy rating for the company in a report on Wednesday. Credit Suisse Group cut their price target on shares of BJ’s Wholesale Club from $80.00 to $73.00 and set a neutral rating for the company in a report on Thursday, August 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of BJ’s Wholesale Club from $65.00 to $62.00 in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $72.57.

View Our Latest Report on BJ’s Wholesale Club

BJ’s Wholesale Club Stock Performance

BJ opened at $66.21 on Wednesday. BJ’s Wholesale Club has a 12-month low of $60.33 and a 12-month high of $80.41. The company has a current ratio of 0.70, a quick ratio of 0.12 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $8.90 billion, a PE ratio of 17.52, a P/E/G ratio of 2.78 and a beta of 0.47. The firm has a 50 day moving average of $65.16 and a two-hundred day moving average of $69.79.

BJ’s Wholesale Club (NYSE:BJ – Get Free Report) last posted its earnings results on Tuesday, August 22nd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.18 billion. BJ’s Wholesale Club had a net margin of 2.64% and a return on equity of 53.66%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, analysts anticipate that BJ’s Wholesale Club will post 3.89 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Monica Schwartz sold 15,168 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $61.85, for a total transaction of $938,140.80. Following the transaction, the executive vice president now owns 25,962 shares of the company’s stock, valued at approximately $1,605,749.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Joseph Mcgrail sold 800 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. Following the sale, the senior vice president now directly owns 13,374 shares in the company, valued at approximately $936,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Monica Schwartz sold 15,168 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $61.85, for a total transaction of $938,140.80. Following the completion of the sale, the executive vice president now owns 25,962 shares in the company, valued at $1,605,749.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,368 shares of company stock valued at $1,022,148 in the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Trading of BJ’s Wholesale Club

Several institutional investors and hedge funds have recently bought and sold shares of BJ. Victory Capital Management Inc. raised its holdings in BJ’s Wholesale Club by 771.0% in the 2nd quarter. Victory Capital Management Inc. now owns 3,719,578 shares of the company’s stock valued at $234,371,000 after buying an additional 3,292,549 shares during the period. Morgan Stanley increased its stake in BJ’s Wholesale Club by 180.8% during the fourth quarter. Morgan Stanley now owns 2,615,939 shares of the company’s stock worth $173,071,000 after purchasing an additional 1,684,174 shares during the period. Goldman Sachs Group Inc. increased its stake in BJ’s Wholesale Club by 145.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,422,594 shares of the company’s stock worth $163,792,000 after purchasing an additional 1,436,785 shares during the period. River Road Asset Management LLC increased its stake in BJ’s Wholesale Club by 61.7% during the second quarter. River Road Asset Management LLC now owns 3,665,484 shares of the company’s stock worth $230,962,000 after purchasing an additional 1,398,257 shares during the period. Finally, Norges Bank purchased a new stake in BJ’s Wholesale Club during the fourth quarter worth about $89,816,000. 93.02% of the stock is currently owned by hedge funds and other institutional investors.

About BJ’s Wholesale Club

(Get Free Report)

BJ's Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the eastern half of the United States. It provides perishable, general merchandise, gasoline, coupon books, promotions, and other ancillary services. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.